Notice of Non-Renewal of License Agreement between Oversee.net and LookSmart, Ltd.
Oversee.net has formally notified LookSmart, Ltd. of its decision to terminate their License Agreement, originally dated April 1, 2004, at the end of the current term. This notice, given under the terms of the agreement, means the contract will not automatically renew for another six months. Any future renewal would require a new written agreement signed by both parties. The letter serves as official notice in accordance with the agreement's provisions.
Exhibit 10.49
Via E-Mail, Facsimile and FedEx
January 21, 2008
LookSmart
625 Second Street
San Francisco, CA 94107
Attention Jonathan Ewert
Dear Jonathan:
Reference is hereby made to that certain License Agreement, dated as of April 1, 2004, by and between Oversee.net (“Oversee”) and LookSmart, Ltd. (as such agreement has subsequently been amended, supplemented or otherwise modified from time to time, the “Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings given such terms in the Agreement.
Pursuant to Section 8.1 of the Agreement, Oversee hereby provides LookSmart of Oversee’s desire to terminate the Agreement at the end of the then effective term. Oversee understands that pursuant to Section 8.3 of the Agreement the effect of this notice will be that the Agreement will not automatically renewed for an additional 6 month period and the Agreement may only be renewed upon a definitive written agreement signed by both parties.
Please feel free to contact me with any questions.
| Sincerely, |
| /s/ Ryan Berryman |
| Ryan Berryman |
| VP Products, Analytics and R&D |
| Oversee Domain Services |
cc: LookSmart Legal Department
| 515 S. Flower Street, Suite 4400, Los Angeles, CA 90071 ###-###-#### F ###-###-#### E ***@*** W www.oversee.net |
